Year-on-Year Growth Rates, All Items
March 2012 - March 2013
| Month | Philippines | Luzon | Visayas | Mindanao |
|---|---|---|---|---|
| 2013 | ||||
| March | -1.5 | -2.3 | -0.2 | 4.3 |
| February | 0.2 | -0.4 | 2.1 | 4.6 |
| January | -0.4 | -1.1r | 1.7 | 3.9 |
| 2012 | ||||
| December | -0.5 | -0.9 | 0.4 | 2.2 |
| November | -0.6 | -0.9 | 0.5 | 1.1 |
| October | 1.2 | 1.4 | 1.1 | 0.2 |
| September | 2.2 | 2.5 | 1.4 | 1.3 |
| August | 2.6 | 2.7 | 1.5 | 2.1 |
| July | -0.2 | -0.4 | -0.7 | 1.4 |
| June | -1.1 | -1.4 | -1.3 | 1.6 |
| May | 0.3 | 0.2 | -0.5 | 1.2 |
| April | 0.6 | 0.6 | -0.6 | 2.0 |
| March | 2.6 | 2.9 | -0.4 | 2.2 |
r - Revised
Year-on-Year
The year-on-year movement in the country’s General Wholesale Price Index (GWPI) declined by 1.5 percent in March from 0.2 percent in February. A negative annual rate was still observed in the crude materials, inedible except fuels index at -23.0 percent in March from -23.5 percent in February; mineral fuels, lubricants and related materials index, -9.8 percent from -4.4 percent; and chemicals including animal and vegetable oils and fats index, -3.0 percent from -2.5 percent. Slowdowns in the annual hikes were also posted in the indices of the following commodity groups: food (2.8% from 3.3%); beverages and tobacco (19.8% from 20.1%); manufactured goods classified chiefly by materials (0.9% from 1.2%); machinery and transport equipment (2.1% from 2.3%); and miscellaneous manufactured articles (0.3% from 0.8%).
Compared to a year ago, the GWPI in Luzon continued to drop as it recorded a negative rate of 2.3 percent in March from -0.4 percent in February. All the commodity groups either posted negative annual rates or slower annual increments during the month. An annual decline was noticed in crude materials, inedible except fuels index at -24.4 percent in March from -25.3 percent; mineral fuels, lubricants and related materials index, -10.4 percent from -5.2 percent; and chemicals including animal and vegetable oils and fats index, -4.2 percent from -3.7 percent. Moreover, the year-on-year growth in the heavily-weighted food index improved to 2.7 percent from 3.4 percent; beverages and tobacco index, 17.9 percent from 18.0 percent; manufactured goods classified chiefly by materials index, 0.6 percent from 0.7 percent; machinery and transport equipment, 2.5 percent from 2.7 percent; and miscellaneous manufactured articles index, 0.2 percent from 0.8 percent.
Similarly, the annual change in the GWPI in Visayas went down by 0.2 percent in March from 2.1 percent in February. This was effected by the annual decrease in crude materials, inedible except fuels index at -20.7 percent in March from -18.1 percent in February and mineral fuels, lubricants and related materials index, -7.6 percent from 5.5 percent. In addition, a slower annual gain was recorded in beverages and tobacco index at 25.8 percent from 27.2 percent. Meanwhile, the annual hikes in the indices of chemicals including animal and vegetable oils and fats and miscellaneous manufactured articles rose 1.1 percent from 0.9 percent and 0.8 percent, respectively; and manufactured goods classified chiefly by materials, 0.6 percent from 0.2 percent. Movements in the indices for food and machinery and transport equipment were still at their last month’s respective annual rates of 1.0 percent and 0.2 percent.
In Mindanao, the growth in the GWPI moved at a slower pace of 4.3 percent in March from 4.6 percent in February. The annual change in the mineral fuels, lubricants and related materials index further dropped by 0.8 percent from -0.1 percent. Likewise, the year-on-year movement in the beverages and tobacco index eased to 27.9 percent from 28.8 percent; chemicals including animal and vegetable oils and fats index, 2.2 percent from 3.0 percent; manufactured goods classified chiefly by materials index, 3.9 percent from 4.7 percent; and miscellaneous manufactured articles index, 1.0 percent from 1.6 percent. However, the annual additions in the heavily-weighted food index advanced by 5.7 percent from 5.5 percent and crude materials, inedible except fuels index, 8.2 percent from 7.3 percent. The machinery and transport equipment index retained its last month’s annual rate of 1.8 percent.
By Commodity Group, Month-on-Month
At the national level, the GWPI registered a negative rate of 0.5 percent in March from 0.9 percent in February. The following commodity groups recorded monthly decreases during the period: food index, -0.4 percent in March from 0.6 percent; crude materials, inedible except fuels index, -2.0 percent from 0.1 percent; and mineral fuels, lubricants and related materials index, -1.8 percent from 2.1 percent. A slower monthly growth of 0.1 percent from 0.2 percent in the manufactured goods classified chiefly by materials index also contributed to the downtrend. In contrast, movement in chemicals including animal and vegetable oils and fats index inched up 0.3 percent from 0.1 percent. The monthly change in the machinery and transport equipment index was still at 0.1 percent while those for beverages and tobacco and miscellaneous manufactured articles indices remained stable as they recorded a zero growth.
Lower prices of copra in Luzon and Visayas pushed down the crude materials, inedible except fuels index in the two areas by 2.0 percent and 3.4 percent, respectively. Downward adjustments in the prices of firewood and adobe stones in Visayas were also observed during the period. On the other hand, higher prices of bamboo raised the group’s index in Mindanao by 0.4 percent. Movement in the group’s index at the national level was seen at -2.0 percent.
Price rollbacks in gasoline, kerosene and diesel resulted to a 1.7 percent decline in mineral fuels, lubricants and related materials index in Luzon; Visayas, -4.7 percent and Philippines, -1.8 percent. Meanwhile, the group’s index in Mindanao went up 0.2 percent as add-ons in the prices of LPG were noted during the month.
The index for food went down by 0.3 percent in Luzon; Visayas, -0.4 percent; and Mindanao, -0.8 percent. This was due to lower prices of fruits, vegetables and selected fish species in the three areas. Prices of poultry feeds were also on the downtrend in Visayas and Mindanao. The group’s national index dropped by 0.4 percent.
The chemicals including animal and vegetable oils and fats index in Luzon moved up by 0.4 percent from 0.1 percent as higher prices of fertilizers, paints and selected medical products were observed in the area. In Visayas and Mindanao, prices of some vitamins and pharmaceutical products were also on the uptrend. Thus, their corresponding group’s indices inched up 0.1 percent. At the national level, the month-on-month growth in the group’s index increased by 0.3 percent.
The 0.6 percent gain in the manufactured goods classified chiefly by materials index in Mindanao was brought about by the price mark-ups in some paper and paper products, cement and other hardware items in the area. Similarly, increments in the prices of cement in Visayas raised its group’s index by 0.2 percent, and in Luzon, 0.1 percent. Upward movements in the prices of plywood and flat bars were also noticed in Luzon. The monthly increment in the national index was recorded at 0.1 percent.
The index for machinery and transport equipment in Mindanao climbed by 0.3 percent. This was effected by the upticks in prices of storage batteries and electrical lamps and fixtures in the area during the period. The 0.1 percent rise in the group’s index in Luzon was due to higher prices of some electrical fixtures. In Visayas, no price movements were seen in the machinery and transport equipment items. In the Philippines, the group’s index grew by 0.1 percent.
A growth of 0.1 percent was noticed in the beverages and tobacco index in Mindanao as prices of selected cigarettes were up during the month. Meanwhile, the beverages and tobacco index in Luzon, Visayas and at the national level had a zero growth.
Movements in the indices of miscellaneous manufactured articles in Luzon, Visayas, Mindanao and at the national level were zero.
Notes:
GWPI by sub-group for Luzon, Visayas, Mindanao and at the national level are also available upon request at NSO, Industry and Trade Statistics Department, Economic and Indicators Division (Telephone Numbers: 716-39-35 and 715-33-47).
